Lithuanian state company KN Energies will operate Germany’s first set of four state-owned LNG terminals on the North Sea coast, the company announced on Thursday.
KN Energies also operates an LNG terminal in the Baltic Sea, which is used for importing natural gas to Lithuania.
‘By providing commercial management services to German LNG terminals, we have had the opportunity to demonstrate unique competences, expertise, professionalism, and the ability to meet customers’ expectations in a qualitative and prompt manner,’ said Darius Silenskis, CEO of KN Energies.
In recent years, Germany has rapidly embarked on the construction of floating LNG terminals to provide new sources of LNG supply following the failure of gas supplies via pipelines from Russia.
The Lithuanian energy ministry owns 72.5% of KN Energies, while Lithuanian conglomerate Achema Group has a 10.4% stake.
The four LNG terminals operated by KN Energies have a regasification capacity of at least 20 billion cubic meters.
